Most of the Excel spreadsheet was created for accounting, but it has many uses beyond this. Marketing analysis is one of them. If you’re working in marketing, you’ll find out that several Excel functions will come in handy when analyzing data or performing any other tasks related to this field. This article will discuss some of the most important functions and how they can help you with your marketing analysis tasks.

1. VLOOKUP Function

VLOOKUP is a function that looks for data in another table. In this case, you are going to look for data on your marketing report and return the values from that table.

First, look at how the VLOOKUP works with one table: In Cell A1, enter the column number you want to search for in your data set (e.g., C). In Cell B1, enter an array formula with this formula: =VLOOKUP(C3,$A$2:$B$7,, FALSE). This tells Excel to search column C of your data set using the value in cell C3 as an index (the first argument), and then return a specific value from column B of our data set by returning FALSE because you want the numerical value rather than text information back (the third argument). The second argument ($A$2:$B$7) specifies which sheet contains both tables where you have your data; make sure it matches up correctly if you have multiple sheets with multiple tables.

2. Data Processing and Transformation

In this process, you can use c# to create excel files which will help you in data processing quickly. Then you can also use pivot tables to summarize and reorganize data. For example, if you want to get a quick view of the number of people who bought products A or B, you can create a pivot table that summarizes each customer by product type.

• You can add filters to your pivot tables so they only show the rows that are important for your analysis.
• You can also use multiple levels in the same column to see summaries at different levels (for example Product Type > Brand > Product).

Pivot tables are great for summarizing large amounts of data into something more manageable, filtering out unnecessary information and organizing it into useful formats such as pie charts or bar graphs.

3. Calculate Moving Average

A moving average is a weighted average of a given set of values that smoothens out fluctuations, identifies trends, and predicts the future. The latest value is given the greatest weight, and as you go back in time and add more values to the calculation, their weight decreases.re values. To calculate a moving average in Excel, you use the AVERAGE function with the argument “A6:B10”. This formula returns the average based on the data range A6:B10. For example, if you want to calculate the third-quarter sales figure as a moving average of all sales figures in column B (from row 5 through row 10), you would enter this formula into cell C10:

• [AVERAGE](B5:B10)

4. Create a Cumulative Count

So if you want to find out how many sales you made in 2017, but only for customers whose names start with A-F. To do this, enter the following formula in cell B2:

“`=COUNTIF(A1:A10,”abcdefghijkl”)

This formula counts the number of cells that contain “abcdefghijkl” within A1:A10. Note that you’re using absolute references because you need to refer to specific cells on the spreadsheet (otherwise your formula will be relative). In this case, you want to count every cell where there is a match so you use the COUNTIF function and specify “abcdefghijkl” which means any combination of those letters will count as a match.

So you want to add up all those sales and determine their total value based on what was sold to these customers. You could just add up all your rows manually or use an array formula that adds up all your sales using SUMPRODUCT().

5. Create an Automatic Timeline for Customer Activity

You can create an automatic timeline of customer activity by using the AUTOFILL function. You can use the SUMIFS function to count how many times a particular condition has been met, such as how many customers have bought more than one product. You can also use the COUNTIFS and COUNTIFS functions to count across multiple criteria and ranges at once, which makes it easy to get totals for different attributes that might otherwise require multiple formulas or tables.

6. Monitoring Performance

Excel PivotTables are the perfect way to monitor performance over time. You can create a PivotTable for each of your sales regions, for each product line within a region, and so on. You can then examine trends in sales volume and margin by region or product line. You can also use PivotTables to compare results against goals or competitors’ results; for example, by comparing actual sales volumes with projected sales volumes at the regional level.

Conclusion

The functions in this article give you a solid foundation to work with Excel and make it much easier to analyze data. They also offer a good starting point for creating your functions or modifying existing ones. So, feel free to mix and match the available functions with other Excel functions that will suit your needs better in analysis.

Analytical thinking, innovation, curiosity, and more are vital traits for a marketer. However, it won’t be easy to market if you do not combine these virtues with the right tools. Big data solutions that are helpful for marketing purposes can be expensive for small businesses.

Such businesses rely on Microsoft Excel for all their data analytics work. Excel is an effective tool for analysis, evaluation, recording, and displaying data. This article will help you know the Excel formulas you should master to handle complex marketing analysis work easily.

Let’s get started with the Microsoft Excel formulas for digital marketers.

1.   Table Formatting

This is an essential and easy-to-use function on the Excel program. But then, many people forget about it and how it can help them analyze data. Its purpose is to gather data and put it in an interactive database, making it easier for an average user to understand the data.

Table formatting allows users to make decisions that affect more than one piece of data. For marketers, it is one of the best collaboration tools to use. Marketing teams can work on one table from different locations, view the information in real-time, get notified of anything new, etc.

2.   SUMIFS 

It is possible to extract any information you need from a data table using SUMIFS. This formula is almost similar to COUNTIFS, but it works as a sum rather than counting. It makes it possible for a user to specify more than one condition at a time. For instance, you can use it to sum up keywords that meet specific marketing criteria.

The syntax for this formula is =SUMIFS(sum_range, criteria_range1, criteria1,criteria_range2, criteria2….). You can extend the formula as much as you wish to ensure it has accommodated all the cells you want. SUMIFS function can make your data analysis more manageable.

3.   Charting 

This formula is worth learning about if you are going to present marketing data to your team. It can help you present data in diagrams, which makes it more appealing and easy to digest. Diagrams have visual features that make them look better and more professional than lists.f

There are simple steps to follow when using the charting function on Excel. Start by selecting all the data you want to use and click insert. Then choose the type of chart you’d like to use, then choose a way to fill it out from the various options that will appear.

4.   COUNTIFS

Another formula that’s worth looking into is COUNTIFS. It helps analysts count the number of cells within a particular collection. There are specific criteria to use when doing this with COUNTIFS. But then, COUNTIFS is a bit complex, and you need to learn its various uses.

The best way to master COUNTIFS is by undertaking training. Acuity Training courses can help you learn about this function from scratch and become an expert. You’ll get to know everything, including the COUNTIFS syntax and its augments you need to master to use it more efficiently.

You can use COUNTIFS for a wide range of marketing tasks. For instance, you can use it to analyze data from a CRM export or Google Sheets. This can include marketing data about keywords, lead sources, customer attributes, employee data, etc.

5.   IF & AND

These are two functions that you can combine depending on what you want to do. You can use them as one when you want to solve two or more conditions. These functions make it possible to evaluate if the data is true or false then take the desired action.

The syntax you need to work with this function is =IF(AND(chosen cell= data inside that cell, chosen cell=data inside that cell), “yes”, “no”). You only need to understand how IF & AND functions work when combined to get started and use them for the desired outcome.

6.   IF Statements 

This formula also makes analysis and evaluation of marketing data easy. You can use it to determine if your data meets specific conditions. For instance, you can use it to differentiate between true and false data when looking to evaluate the performances of your campaigns.

Here’s the syntax to use; a. =IF (logical_test, value_if_true, value_if_false).

7.   Conversion Rate

Source: Pixabay

You can consider using this function if going to present data. It is also effective for evaluating the performance of various business aspects. For instance, you can use it to check and assess your sales click-through rates and even get a clear view of your lead generation.

This function can help you calculate different outcomes. It all depends on the kind of data you feed into it. You can use it to reduce the time needed to calculate these outcomes. The syntax for the conversion rate function is a.=(number_of_target_interactions/total_interactions)*100.

1.   CONCATENATE

This function can help you save a lot of time when working with Excel. You can use it to pull two sets of information in different columns together. It saves you time because you won’t need to copy and paste from one column to another. You apply one formula and transfer all the data.

There are simple steps to follow when using CONCATENATE. You start by creating a new column to input the collected data. Then use the CONCATENATE syntax; =CONCATENATE and the exact columns you’d want to combine by indicating them as (B2, C2).

2.   LEN 

You can count the number of characters within a cell using this function. But then, it only works for a string of characters within the same cell. This saves marketers from the lengthy manual process of counting the characters one by one before making key marketing decisions.

LEN increases the speed of working with data. It also improves accuracy because manual counting can be susceptible to human error. All you need to complete the LEN function is this syntax; =LEN(chosen cell). Once you do, the function quickly returns an accurate result.

Conclusion

Marketing is changing and becoming more data-driven. Marketers need more visibility to design campaigns that can bring good returns. Data makes it possible for them to understand the needs and expectations of their target audiences then customize marketing messages.

However, analyzing and evaluating big data isn’t easy. It would be best to use tools like Microsoft Excel to ensure you draw helpful insights from complex marketing data sets. This article has explored the formulas that help simplify complex marketing analysis on Excel.